BUCKINGHAM, PA – The Buckingham-based Pennsylvania Biotechnology Center recently received a large funding package, as part of nearly $ 2 million in state funding recently awarded to local science and technology initiatives.
The Redevelopment Assistance Capital program provided $ 722,500 to build multi-user labs and educational facilities in a new building.
The center itself is a life science incubator dedicated to advancing biotechnology in Bucks County and the region at large, building relationships between nonprofit scientists and their business colleagues to launch new discoveries.
“The continued growth and development of the Pennsylvania Biotechnology Center is attracting new and established companies to our region, putting people to work and helping build Bucks County as a biotechnology corridor,” state Senator Steve Santarsiero said in announcing the new financing.
The founder and president of the center, Timothy M. Block, is grateful for Santarsiero’s support, calling him a “great supporter” of their work.
“This support will allow PABC to further expand our state-of-the-art research facilities for entrepreneurs in our area, to continue to generate life-saving innovations and, of course, to create new jobs,” he said. “It will also help us continue teaching young people about science, research and entrepreneurship. The PABC is a world-class research center and this kind of support will allow us to maintain the momentum we have built in recent years.”
Another company in Bucks County also received substantial funding for its innovations.
New Britain company Thrombolex, Inc., received $ 1,200,000 to build a warehouse that would expand its manufacturing capabilities for the endovascular catheters it manufactures.
“This catheter platform creates a channel for immediate blood flow through a blood clot to enable precise and targeted delivery of clot-breaking (thrombolytic) drugs directly to the clot,” said CEO Marvin Woodall. “Pulmonary embolism is the third leading cause of cardiac death. With this funding, we can now move forward with plans to meet the demand for our life-saving devices. We greatly appreciate the support of Senator Santarsiero.”
The Redevelopment Assistance Capital Program is a Commonwealth grant program for regional economic, cultural, civic, recreational and historic improvement projects. More information is available online.
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